726.4.8. Notwithstanding sections 726.4.6 and 726.4.7, no amount may be deducted, in either of the following cases, in computing the taxable income of an individual, for a taxation year, in accordance with those sections in respect of a certified Québec film:(a) where the individual was allowed a deduction, for the year or a preceding taxation year, in respect of the film under section 726.4.5;
(b) where the part or the amount of the capital cost of the film that was deductible for the year or a preceding taxation year, in accordance with the regulations under paragraph a of subsection 1 of section 20 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement), exceeded 30% of that cost, computed without reference to any additional deduction based on the income from a film and granted in accordance with the latter regulations.